Welcome to OCN! There are thousands of posts about overclocking already that I suggest you read through. Both the cpu and the memory are older, and there should be plenty of examples available.
I own a set of XMS2's and I cannot get much more out of mine. At 1.8v, I can run them at 850 though. If I push more voltage through them, I cannot lower the timings much nor increase the clock speed.
The cpu will overclock fairly well. The thermal limit is somewhere around 72C, but you should try to keep it below 60C IMO. Install Probe from the Asus site to watch the temps or something better like Real Temp that allows you to see the core temps individually. Do you have the stock cooler or an upgraded one?
Your motherboard manual does a pretty good job of explaining how to overclock your hardware. Just remember that when you increase the FSB, it increases other hardware like your memory and northbridge. The goal is to overclock and stability test 1 item at a time. Start with your CPU and use Linx or Prime95 to stability test the overclock in Windows. If the CPU fails the test, try increasing the cpu voltage by the smallest increment available.
While your trying to test your cpu, be sure to select the closest clock speed to the factory speed for your memory and northbridge etc. Opt to downclock below the factory clock instead of overclocking other hardware. This will insure that your CPU is the only hardware causing the stability test to fail. Once you reach a nice overclock, work on your memory, and then your northbridge. I would personally stick to the cpu right now though until you get a feel for what you are doing.
I bolded two items because they are tied together. Lastly, before you start, dissable Speed Step in your bios and change your Windows Power Profile to High Performance because both will cause instability while overclocking your CPU. When you get a stable overclock, you can try to enable it again to see if you can be stable with power saving features like these, if you wish.
Edit: Vista? Yuck!
Edited by BWG - 7/8/11 at 9:19am